40 Lakh Home Loan Kotak Bank

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Kotak Mahindra Bank offers many home loans to help people buy their dream home. Kotak Bank's Home Loan of 40 Lakhs offers easy access to owning a home with low-interest rates and flexible repayments. For a 40 lakh loan Kotak Home Loan on a villa worth 60 lakhs, with 20 lakhs as a down payment, choose a 5 to 30 years tenure and an interest rate (fixed or floating). Opting for a 15-year tenure at a floating rate of 8.75% incurs an EMI of Rs. 39,715. Additional benefits like balance transfers, top-up loans, and varied repayment modes are available, with online tracking via their website or mobile app.

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Table of Content

1. Kotak Home of 40 Lakhs Highlights

2. Kotak Home Loan of 40 Lakhs EMI for 10 Years

3. Kotak Home Loan of 40 Lakhs EMI for 20 Years

4. Kotak Home Loan of 40 Lakhs Fees and Charges

5. Kotak Home Loan of 40 Lakhs Documents Required

6. Kotak Home Loan of 40 Lakhs Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Kotak Home of 40 Lakhs – Highlights

Here is a quick snapshot of the basic highlights for the Kotak Home Loan for salaried person

Loan Amount	40 Lakhs
Loan Tenure	Up to 25 years
Loan-to-value Ratio (LTV)	Up to 90% of the property’s value
Interest Rate (p.a)	8.70% onwards

Kotak Home Loan of 40 Lakhs EMI for 10 Years

The 10-year EMI for a 40 Lakh Kotak Home Loan will be as follows:

Interest Rate	8.70 %
Loan Tenure	10 Years
EMI for 10 Years	50,023
Total Interest Payable	20,02,779
Total Payable Amount	60,02,779

Kotak Home Loan of 40 Lakhs EMI for 20 Years

Here are the Kotak Home Loan of 40 Lakhs EMI for 20 Years

Interest Rate	8.70 %
Loan Tenure	10 Years
EMI for 10 Years	35,220
Total Interest Payable	44,53,020
Total Payable Amount	84,53,020

Kotak Home Loan of 40 Lakhs – Fees and Charges

Here are the details for the Kotak Home Loan of 40 Lakhs fees and charges

Processing Fee	0.5 % of the loan amount
Copy of Any Documents	₹250 (plus taxes)
Change in Repayment Mode	₹500(plus taxes)
Conversion Fee	0.5% of the principal outstanding
Rescheduling of Loan Term	₹500 (plus taxes)

Kotak Home Loan of 40 Lakhs – Documents Required

To secure a Kotak Home Loan, furnish proof of identity (Passport, PAN Card, Voter ID, or Driving License) and residence (Utility Bill, Leave and License Agreement, or Passport). Submit income proof via bank statements (6 months for domestic accounts, 12 months for self-employed), salary slips, and the latest Form-16. Additionally, provide signature proof and evidence of educational qualifications.

Kotak Home Loan of 40 Lakhs – Eligibility Criteria

To qualify for a Kotak Home Loan: Individuals need Indian residency, earning Rs. 20,000 monthly in major cities or Rs. 15,000 in others, aged 18 to 60 (salaried) or 65 (self-employed), with a bachelor’s degree for private sector roles. Firms require three years’ existence, Rs. 2,40,000 net income in metros or Rs. 1,80,000 elsewhere yearly, while HUFs need a three-year existence, minimum income, and a Karta. A credit score of 750+ is essential for competitive rates.

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